Euro Hits 11-Year Low Against Dollar

Fall in single currency comes ahead of ECB announcement on how it will carry out bond-buying program

Josie Cox

The euro slumped to a fresh 11-year low against the U.S. dollar Wednesday, on the eve of a key meeting at which the European Central Bank is expected to shed more light on how it will execute the bumper bond-buying program it announced in January.

The bloc’s single currency was trading around 0.9 percentage point lower against the dollar midafternoon at around $1.1072, its lowest point since September 2003. The euro also hit a seven-year low against sterling Wednesday, of £0.7237.